Attorney Joseph M. Kempter Installed as President of SJ Chapter of Society of Financial Service Professionals
Shareholder, Joseph M. Kempter, Esquire, was recently installed as the President of the South Jersey Chapter of the Society of Financial Service Professionals. “To be accepted for regular membership in the Society, an individual must have achieved and demonstrated a high level of achievement in his or her professional career. Among other requirements, he…
Attorney Daniel L. Mellor Appointed as YLD Executive Committee Representative for Burlington County
Associate, Daniel L. Mellor, Esquire, was recently appointed as a Young Lawyers Division Executive Committee Representative for Burlington County. The Division is for “attorneys who are younger than 36 or have practiced for less than ten years, the Young Lawyers Division provides New Jersey’s newest lawyers with an opportunity to network and to enhance their…
Joseph M. Kempter, Esq. to Speak at Pennsylvania Bar Institute Seminar
Shareholder, Joseph M. Kempter will be speaking on NJ Estate Planning Issuesat “What PA Lawyers Need to Know About NJ Estate Practice”, a seminar presented by the Pennsylvania Bar Institute. The seminar will take place on Tuesday, August 19, 2014, at the CLE Conference Center, located at the Wanamaker Building, 10th Floor Suite 1010, 100…
Powers of Attorney & IRS FBAR Reference Guide
FBAR Filing and Powers of Attorney: The recently published “IRS Reference Guide on the Report of Foreign Bank and Financial Accounts (FBAR)” explains the purpose of the FBAR, who must file, and provides a host of definitions relating to the FBAR regulations. Perhaps most notably, the reference guide explains that…
Booth vs. Division of Taxation – Important Decision Effect New Jersey Planning
BACKGROUND Booth vs. Director, Division of Taxation,27 N.J. Tax 600, decided February 11, 2014 is a far reaching and significant opinion that will change the way tax planners view the “New” New Jersey Estate Tax. The New Jersey Estate Tax, enacted in June 2002 for individuals passing away after January…
The New Jersey UTC – The Time Has Come
What is the Uniform Trust Code (UTC) and why should it be adopted in New Jersey? The Uniform Trust Code is, as the name denotes, an attempt to codify rules related to trust administration and planning. It was originally proposed by the National Conference of Commissioners on Uniform State Laws (also called…
Kulzer & DiPadova Participates in CPA Bowl-A-Thon
Attorneys from Kulzer & DiPadova, P.A. participated in the 10th Annual Accountants/CPA Bowl-A-Thon on May 21, 2014 at the Playdrome in Cherry Hill. Pictured from left to right are; Douglas R. Madanick, Patrick J. McCormick, Daniel L. Mellor, Joseph M. Kempter and Briele N. Haas. About the CPA Bowl-A-Thon The Annual Accountants/CPA Bowl-A-Thon is…
The Ship May Not Have Sailed: It May Not be Too Late to Make a Portability Election
Recently, the Internal Revenue Service provided estate representatives and their advisors additional time to revisit and reconsider making a “portability” election for Decedents passing away in 2011, 2012 and 2013 opening up additional post-mortem planning opportunities. The concept of “portability” was introduced in December of 2010 under the Tax Relief, Unemployment Insurance Reauthorization,…
Tax Court Determines that a Trust Can Materially Participate
On March 27, the Tax Court issued a decision in Frank Aragona Trust, et al. v Commissioner, 142 TC 9 (2014). The case is very significant in that it held that a trust, through the activities of its trustees, could materially participate in an activity for purposes of the passive loss…
Estate Planning in a Decoupled State Post-ATRA for Married Clients Under the Federal Exclusion Amount
One of the more difficult challenges practitioners face is advising clients who are domiciled in decoupled states as to how to minimize state estate taxes and maximize the increases in available income tax basis to reduce the impact of the now higher capital gains taxes, all while addressing clients’ personal…